Just before the new year, John R. of Bangor contacted COMBAT to inquire about a company called Keane Tracers Services Corp. of West Conshohocken, Pa. The company spoke with Mr. R.’s wife by phone, claiming to have located unclaimed assets (in this case $899 in cash) belonging to John R. Not finding the consumer at home, the company said it would mail information about the cash Mr. R. had coming to him.

The day after Christmas, a letter arrived that said, “Keane has been in the business of locating owners of unclaimed assets or their heirs since 1949. We have uncovered such an asset to which you are entitled.” Keane enclosed a copy of an agreement for Mr. R. to sign. The letter and agreement further said, “Please note that we charge 35 percent of the amount recovered, out of which Keane Tracers will pay all costs and expenses, excluding taxes, necessary to recover the asset.” In this case the 35 percent Keane would take amounted to $314 of the $899 coming to Mr. R.

COMBAT counseled Mr. R. that most states, including Maine, maintain a record of unclaimed assets such as unrecovered insurance claims, inheritances, property, taxes, bank balances, etc. Most state treasurers are compelled by law to publish a list of such unclaimed assets at least once a year, usually doing this in local newspapers. We told Mr. R. that we were certain this is what Keane referred to, and that before paying the 35 percent fee, he should contact the treasurer of Maine and any other state in which he had resided to see if his name appeared on an unclaimed property list.

Mr. R. called the Illinois State Treasurer’s Office because he had lived in that state some years ago. The Illinois treasurer confirmed that Mr. R. had some cash coming to him, but that it may take a year or two to be posted for his recovery.

The Illinois treasurer further advised our Maine consumer that officials there were familiar with Keane Tracers Services Corp. and had dealt with it in the past. “If our experience is any indicator,” the State Treasurer’s Office continued, “all Keane will give you for your $314 is our agency name, address and telephone number so you can contact us about the unclaimed asset.”

Mr. R. had wisely saved himself $314 by taking the initiative to call without paying a third party.

While this practice is not illegal, it is “slippery” and certainly a way for a cagey company to make money without doing a substantial amount of work to earn it.

If you are contacted by phone, mail, or email about an “unclaimed asset,” do as Mr. R. did and call or write the state treasurer of Maine or any state in which you have previously resided. They will tell you if you appear on their list and you can save a lot of money by avoiding the middleman.

COMBAT/Forum also wants to warn our readers that an increasing number of phony charities are soliciting contributions by telephone, mail, Internet, and door to door.

Before you make a commitment for a gift, check around. If they claim to be a local charity, ask for their local address and telephone number. If they claim affiliation with any local charity, call that charity and ask if the local charity has knowledge of the solicitation. You may also contact the United Way to see if it knows of the charity. If nothing else works, contact COMBAT-Forum and we will check them out for you. If they are legitimate, they won’t mind waiting a few days for your gift.

Consumer Forum is a collaboration of the Bangor Daily News and Northeast COMBAT/The Maine Center for the Public Interest, Maine’s membership-funded nonprofit consumer organization. For help or to request individual or business membership information write: Consumer Forum, Bangor Daily News, PO Box 1329, Bangor 04402-1329.